FansUnite Entertainment Inc (CSE:FANS) (OTCMKTS:FUNFF) announced that its wholly-owned Askott Entertainment (Malta) Ltd. and E.G.G Limited subsidiaries have been granted a Gaming Service License and Critical Gaming Supply license, respectively, from the Malta Gaming Authority.
FansUnite said receiving these licences will enable it to offer a full spectrum of online gambling services in Europe, covering Casino, Fixed Odds Betting, Pool Betting and Controlled Skilled Games. The licenses are granted for a term of 10 years each.
FansUnite Entertainment CEO Scott Burton said in a statement: “The Malta Gaming Authority license is widely considered one of the most prestigious gambling licenses in the industry and receiving it represents a major milestone in our development as a betting and iGaming company.”
He added: “Having spent years building our technology to a global standard that is desirable by international regulatory bodies, we were able to meet Malta’s extremely stringent and rigorous technical, software, and corporate audits and qualify for two separate licenses. With the approval in hand, we will look to continue executing on our growth strategy, by collaborating with new partners in Europe in order to distribute our sports and esports betting platform along with our RNG casino game titles to an expanded customer base.”
The company noted that the Malta Gaming Authority’s gaming licenses are industry standard and in line with EU laws and regulations. It expects these licenses will give FansUnite significant recognition as a trusted betting platform supplier and casino operator in Europe in the online gambling market and will also allow it to obtain accessibility to new markets as operators registered under EU legislation in order to utilize FansUnite’s B2B and B2C products.
Askott Entertainment Malta’s B2B Critical Gaming Supply License enables FansUnite to sell its proprietary software to a broad spectrum of licensed sports betting and iGaming operators throughout Europe, while E.G.G. Limited Malta’s B2C Gaming Service License allows FansUnite to operate its own brands and game offerings within the EU market.
As well, the company expects to gain full rights to provide full white label services to partners, eliminating the need for them to undergo the licensing process, software testing procedures, payment processing configurations and banking requirements. Other benefits include a variety of payment methods that will result in smoother transactions and a corporate-friendly tax system.
FansUnite added that it will be joining other highly-respected gambling companies, such as PokerStars, Betfair and Unibet, in operating their business within Malta Gaming Authority regulations.
With the receipt of these licenses, FansUnite Entertainment said it will now begin extensive business development to promote iGaming and sports betting services to both end customers and online casino and sportsbook operators in Europe.
Contact Sean at [email protected]
Story by ProactiveInvestors
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